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Mumbai: A 60-year-old retiree residing in the western suburbs fell victim to an elaborate online share trading fraud, losing a staggering amount of Rs 2.6 crore. According to his police complaint, the man was added to a WhatsApp group in December 2023, purportedly offering investment tips and opportunities.

As per a Times of India report, the group, reportedly managed by multiple admins, presented itself as a platform for investing in the share market through a private American company. One of the administrators convinced the retiree of profitable returns, prompting him to transfer an initial amount of Rs 50,000 to a virtual account in February. Subsequently, the virtual account displayed lucrative profits, leading the retiree to continue investing.

Over time, he transferred additional sums totalling Rs 2.6 crore as instructed by the group's administrators. However, in a shocking turn of events, one of the administrators informed him that the company had incurred losses and demanded 20 per cent of his investment. Reportedly, the accused refused and then went incommunicado. In his response, the man then approached the police.

In another news, a 41-year-old businessman from Nagpur fell victim to a fake online platform, losing a significant Rs 87 lakhs under the pretense of investing in the New York Stock Exchange. The promise of high returns proved to be a trap, leaving the victim in financial turmoil. The victim, identified as Mishra, initiated contact with the fraudsters after receiving a friend request from Jesleen Prasad on Facebook. Prasad enticed Mishra with the opportunity to trade on the New York Stock Exchange through a portal named newyorkstockexchangev.top. To bolster credibility, Prasad showcased purported screenshots of successful trades by other investors on social media. Under the illusion of substantial returns, Mishra shared his bank details and was provided with a login ID for trading.